German listed residential landlord Vonovia announced on Thursday that it has become the largest shareholder in peer Deutsche Wohnen, with a 60-30% shareholding reached after the end of the regular acceptance period of its voluntary takeover offer.
In a statement, the company said that all Deutsche Wohnen shareholders who have not yet accepted the offer have the opportunity to tender their shares during an additional acceptance period for €53 in cash per share. The additional acceptance period begins on 8 October and ends on 21 October 2021.
In September Vonovia waived all offer conditions in its voluntary public takeover bid for the shares of Deutsche Wohnen.
The step eliminated the need to reach a minimum acceptance threshold, which Vonovia said would ensure the success of the transaction, 'in the interest of both companies' stakeholders'.
In late September both companies concluded the sale of a portfolio of 14,740 residential units in Berlin to the municipal housing companies berlinovo, degewo and Howoge for a price of €2.45 bn.
